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When President Barack Obama called on Janet Yellen to become the next leader of the Federal Reserve, he placed in the hands of the five-foot-tall, gray-haired economist from Brooklyn one of the most consequential challenges of our time.

The researchers compared currently lending to lending standards in 2001. They found that if lending standards were similar to 2001 (prior to the loose bubble lending), then there would have been up to 1.2 million more purchase mortgage in 2012. From Laurie Goodman, Jun Zhu, and Taz George: Where Have All the Loans Gone? The Impact of Credit Availability on Mortgage Volume

It's hard to get a mortgage right now not just relative to the free-for-all days at the height of the housing boom, but compared even to what now feels like the housing market's last moment of "normal." Let's call that, say, 2001. Back then, lenders weren't doling out loans with the gleeful abandon of the housing bubble. But they were considerably more welcoming than they are today of would-be homeowners without pristine credit. Read full article &#62;&#62; &nbsp; &nbsp; &nbsp; &nbsp;

WASHINGTON (Reuters) &#8211; Three Democratic lawmakers asked to discuss with U.S. Attorney General Eric Holder the Department of Justice&#8217;s allegedly uneven efforts to prosecute mortgage fraud, according to a letter dated Monday. U.S. Senator Elizabeth Warren and representatives Elijah Cummings and Maxine Waters are seeking an audience with Holder over a new watchdog report that [...]

Russia Sees Economy Tipping Into Crisis as Western Sanctions Hit Bloomberg Russia warned its economy was showing signs of a crisis as the U.S. and the European Union announced sanctions over the country&#39;s support for the Crimea region breaking away from Ukraine. "The situation in the economy bears clear signs of a crisis,"&nbsp; ... and more&nbsp;&raquo;

James S. Brady Press Briefing Room 10:45 A.M. EDT THE PRESIDENT:&nbsp; Good morning, everybody.&nbsp; In recent months, as the citizens of Ukraine have made their voices heard, we have been guided by a fundamental principle -- the future of Ukraine must be decided by the people of Ukraine.&nbsp; That means Ukraine&rsquo;s sovereignty and territorial integrity must be respected, and international law must be upheld. And so, Russia&rsquo;s decision to send troops into Crimea has rightly drawn global condemnation.&nbsp; From the start, the United States has mobilized the international community in support of Ukraine to isolate Russia for its actions and to reassure our allies and partners.&nbsp; We saw this international unity again over the weekend, when Russia stood alone in the U.N. Security Council defending its actions in Crimea.&nbsp; And as I told President Putin yesterday, the referendum in Crimea was a clear violation of Ukrainian constitutions and international law, and it will not be recognized by the international community. Today, I&rsquo;m announcing a series of measures that will continue to increase the cost on Russia and on those responsible for what is happening in Ukraine.&nbsp; First, as authorized by the executive order I signed two weeks ago, we are imposing sanctions on specific individuals responsible for undermining the sovereignty, territorial integrity and government of Ukraine.&nbsp; We&rsquo;re making it clear that there are consequences for their actions. Second, I have signed a new executive order that expands the scope of our sanctions.&nbsp; As an initial step, I&rsquo;m authorizing sanctions on Russian officials -- entities operating in the arms sector in Russia and individuals who provide material support to senior officials of the Russian government.&nbsp; And if Russia continues to interfere in Ukraine, we stand ready to impose further sanctions. Third, we&rsquo;re continuing...

If coming up with a down payment on your own is a bit of a stretch, you may be able to buy a home using gift funds for the down payment. Gifts can be perfectly acceptable under the lending guidelines for most types of mortgage financing available today, but it's super important that they are [&#8230;] The post Real Estate: How Down Payment Gifts Really Work appeared first on OurBroker .

Senators Decry Crimea Referendum as Bogus After Visit Bloomberg People check in to vote inside a polling station in Simferopol, Ukraine, on March 16, 2014. Close. Close. Open. Photographer: Spencer Platt/Getty Images. People check in to vote inside a polling station in Simferopol, Ukraine, on March 16, 2014. and more&nbsp;&raquo;

The problem with overhauling mortgage-finance giants Fannie and Freddie boils down to this: many in Washington say they want to get rid of the companies, but they want to preserve many of the benefits that those companies enabled.

Senate Banking Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, just yesterday released the details of the housing reform draft they have agreed on, but one panel member is already urging plenty of time for review and markup.

Richard J. Andreano, Jr. On March 13, 2014, HUD published a proposal to eliminate the requirement that an FHA loan borrower be required to pay interest after the loan is prepaid. The move is needed because the requirement would effectively cause FHA loans to be prohibited under CFPB rules starting in January 2015. Comments on the proposal are due... More &#62;

Fannie Mae Wind Down Deemed Threat to Home Recovery: Mortgages Bloomberg A U.S. Senate plan to dismantle Fannie Mae and Freddie Mac may deliver an unintended blow to a fragile housing recovery. A draft of the measure, which Senate Banking Committee leaders released yesterday, would replace the two financiers with a&nbsp; ... and more&nbsp;&raquo;

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